“I Can’t Afford It:” What Your Prospect Really Means & How to Fix It
As an entrepreneur, I know we’ve all been there on a discovery call when we’ve been chatting for the past hour with a prospect who we know is perfect for our coaching program and you know you can help them get out of feeling stuck and miserable and then you hear the dreaded…”I’d like to join your program, BUT I can’t afford it.”
It can be especially frustrating and disheartening when you hear this time and time again from your prospects. It can leave you second guessing yourself, your offer, and even your ability to be a successful entrepreneur.
However, if we look under the surface of what “I can’t afford it” actually means, we can gain great insights and opportunities and can empower our prospects to want to invest in themselves so they can achieve the transformation they most desire and that your program delivers.
While there’s actually a bunch of different reasons you receive the “I can’t afford it,” I’m gonna focus on the top 5 I see occurring with the health coaching clients I serve.
I’m also gonna share some strategies to address each of these reasons so that hopefully the “I can’t afford it” becomes something you rarely, if ever, hear again.
The top 5 reasons are (read on to see how to fix each of these reasons):
They don’t see the value
They worry they won’t get results
They’re not ready
They’re being nice
They’re confused
“I Can’t Afford It” Reason #1: They Don’t See The Value
Your prospect may question the value they would receive from your coaching program, particularly in relation to its cost. They might be uncertain about the potential benefits or unsure if it's worth the financial investment.
THE FIX: 1. Be sure your content (i.e., blogs, videos, emails, website, webinars, and/or social media) is always highlighting the results-that’s all your prospect cares about, “Will I get the results this program offers?”
2. Include the $ value of each component of your coaching program as well as the overall value of your program, compared to the investment. You can see an example of this with my F.A.S.T. Track Group Business Coaching Program.
3. In your content, address the costs associated with staying stuck in their challenge (whatever problem you seek to solve). For instance, if you’re a weight loss coach, you can talk about the cost of gym memberships they don’t use, weight loss drugs and supplements that didn’t work, etc. It’s important to include both tangible (measurable) and intangible (like emotional or unmeasurable) costs.
“I Can’t Afford It” Reason #2: They Won’t Get Results
This reason shares some overlap as #1, but in this case, they may say they can’t afford it, because they fear they won’t be able to make the changes, commit, or otherwise gain success and the results your program delivers.
Going back to the weight loss coach example, your prospect may have tried countless other programs and diets to lose weight and nothing worked so they fear failure and question their ability for this time to be any different.
THE FIX: 1. Address this valid concern in your copy by telling how you/your program/method is different from others out there.
2. Use social proof, testimonials, and case studies to showcase that other people (like them) were able to have success. Another tip here is to include big, middle of the road, and small wins along the way so your prospects feel the results are truly achievable and realistic for them.
3. On your sales page, be sure to address this concern with your modules, resources, bonuses, and/or in your FAQ’s.
“I Can’t Afford It” Reason #3: They’re Not Ready
You may find that a prospect says, “I can’t afford it” because actually they’re not ready. They may just be in the beginning stages of looking to solve their problem, their fear of change may outweigh their desire to change, or they may just be researching the options out there to solve their challenge.
If you’re frequently talking to people who aren’t ready to move forward (but they keep saying “I can’t afford it” because it’s the ‘nice’ way of saying ‘not yet’), then this means they weren’t an ideal fit for what you have to offer AND your marketing is attracting the wrong person (This is a big part of what I help my health coaching clients with, so DM me if you wanna connect more about this challenge).
THE FIX: 1. Address this concern by showcasing things to help ease them into change (do this only if this is in alignment with your program/your method). For instance, you can share that there’s 1-1 coaching calls to help overcome obstacles, fears, and limiting beliefs that may likely come up during the course of your program.
2. Ensure your content and marketing is speaking to people READY to take action and desire to solve their problem. It’s totally normal to have some fears about that, but ultimately their desire to end their struggle needs to be higher than their fears.
3. Create a consistent follow up plan; just because they weren’t ready to invest now in solving their problem doesn’t mean they won’t be in the future. I’ve created a system within my own business where I check back in with past discovery call prospects who were a no at the time at 3-6 month intervals depending on their particular reason for the no at the time.
“I Can’t Afford It” Reason #4: They’re Being Nice
You may hear an “I can’t afford it” because they don’t want to tell you no. This can be particularly true if you’re meeting with a prospect in person or on Zoom when you can see one another. I find this especially true of people pleasers. They don’t want to disappoint you or feel like they’ve wasted your time.
THE FIX: 1. I encourage my prospects that I only work with clients that are a “YES!” to work with me, so even during the discovery call, I’m empowering them to lean in to what their gut, emotion, and brain is telling them to do; essentially, they don’t have to play nice with me if it’s truly a no because I don’t wanna waste either of our time or their money.
2. Have some kind of application process or initial questionnaire a prospect must complete before they can book a discovery call with you (this will not only give you very helpful information to prep for your discovery call, but also weed out those who aren’t really considering investing or who are just wanting more information, but haven’t actually checked out your sales page or content.
3. Address this in your copy and content-that you only work with people READY to solve their challenge and that your discover calls are primarily just to see if you both jive together.
“I Can’t Afford It” Reason #5: They’re Confused
This is another common underlying reason you may get an “I can’t afford it.” It’s because they’re confused-or overwhelmed-by your offer. They may not understand how it works, how it’s delivered, what’s all included, what benefits they’ll get.
THE FIX: 1. Be sure your offer is clear, specific, and only includes what they must have to achieve the specific solution they desire; then ensure your sales page is also those things.
2. Consider adding a slide deck or using a google doc with your program details including payment and payment plan options that you show them during your Zoom discovery call, so they can visually see as well as hear what’s included.
3. Pause after each step of discussing your offer instead of going straight through. For instance, when I’m sharing my Business Building Breakthrough 1-1 Business Coaching Program, I first share the 4 step framework, then I pause to ask them if they have any questions; then I share the features (what’s included) and ask them if they have any questions; then I share the bonuses and ask them if they have any questions; then lastly the investment and see if they have any questions.
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There you have it! 5 reasons you might hear an “I don’t know from your prospect and it actually may mean something else.
There of course may be times when your prospect really legit can’t afford it, so respect that, and both go on your merry way (I encourage you to give them a couple of other resources or a referral to otherwise support them).
Then see that as an opportunity to understand your ideal client better and use your content to be even more clear about who your program is a great fit for and who it’s not…To be very clear, I’m not being dismissive to those who can’t afford it. I just mean from a business standpoint, you can’t stay in business if you’re marketing to people who don’t have the ability, and/or see the value in investing in your program to solve their problem.
After all, in my own Business Coaching & Copywriting Business, I frequently work with newbie health coaches who haven’t made a single $ in their business, yet they are super excited to work with me to create and grow their online coaching business because they see the immense value and want so badly to end the confusion, overwhelm, frustration, and lackluster results they’ve been experiencing up to that point.
Lastly, I want to share that unless your client is a, “YES” on your discovery call, there is an opportunity-and albeit responsibility-for you as the coach to hold the space for them and help them really uncover what their fears, objections, and concerns are. This will actually help empower them to get clear around their true concerns.
So in all of the examples above, when you hear an, “I can’t afford it” on your discovery call, you can then say, “It sounds like money is a concern for you and I totally get that. Can I ask a question about that?” If they say okay, then you can ask, “If you did have the money, would you be ready to get started?”
This question will tell you what is underneath the smokescreen. What is the real reason why they aren’t ready yet? Is it money? Or is it time? Or is it that they haven’t seen the value yet? Or that they don’t know if they’ll get the results?
Once you uncover what is underneath their smokescreen you can address their real concerns and hold them powerful if they indeed want to make a change. If they answer “yes,” if they did have the money, they would get started, then that means that money is the concern.
THE FIX: Discuss payment plan options with them or help them look at creative ways they can finance this opportunity so they can achieve their goal.
The overall takeaway here is that generally an “I don’t know” is often another concern in disguise. Instead of taking it personally or thinking you need to lower your prices, you can see it as an opportunity to hone your niche, your copy and marketing, and to coach them in a powerful way.
The cool news if you’re needing help in any of these areas, that’s exactly what I help my clients with as a Business Coach and Copywriter. Simply DM me on Facebook if you wanna chat more, no presh!
